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Credit Rating (Bankruptcy Risk): D.Western Therapeutics Institute (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: D.Western Therapeutics Institute (Annual ) (Non-Consolidated )

Special note

Net income is minus 4 consecutive terms. The business have very high risk.

Operating cash flow minus 4 consecutive terms. The business have very high risk.

Net Assets have dropped 4 consecutive terms. The fiscal base is getting worse.

Cash(¥ 423 M) is more than the total liabilities(¥ 15 M). It is a very steady fiscal base!

[Date: 2012-12-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -874 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -256 M) & Operating Cash Flow (¥ -264 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 99 M) is a plus, Issuance of new shares (¥ 69 M) is plus. Because it is thought that the circulating fund is gained by sale and new issue of stocks of stock property , there is a possibility that the financing is severe.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -264 M) is a minus, Financial Cash Flow (¥ 68 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -264 M) is minus, Investment Cash Flow (¥ 99 M) is plus. Because the main occupation was dull, stock property may have been sold off.

[Date: 2011-12-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -652 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -354 M) & Operating Cash Flow (¥ -343 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 398 M) is a plus, Issuance of new shares (¥ 24 M) is plus. Because it is thought that the circulating fund is gained by sale and new issue of stocks of stock property , there is a possibility that the financing is severe.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -343 M) is a minus, Financial Cash Flow (¥ 22 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -343 M) is minus, Investment Cash Flow (¥ 398 M) is plus. Because the main occupation was dull, stock property may have been sold off.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 27 M) is Net Income (¥ -354 M) Operating Cash Flow (¥ -343 M) is a minus, Sales (¥ 20 M) more , there is a possibility of holding the non-performing asset.

[Date: 2010-12-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -312 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -418 M) & Operating Cash Flow (¥ -406 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Management Risk (*Net Income is decrease )
Net Income (¥ -418 M) is first term Net Income (¥ -392 M) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -406 M) is a minus, Financial Cash Flow (¥ 90 K) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 12 M) is Sales first term ratio (-) more , there is a possibility that the non-performing asset was increased.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 26 M) is Net Income (¥ -418 M) Operating Cash Flow (¥ -406 M) is a minus, Sales (-) more , there is a possibility of holding the non-performing asset.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -406 M) and Investment Cash Flow (¥ -3 M) is minus, so , there is a possibility of the overinvestment.

[Date: 2009-12-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -392 M) & Operating Cash Flow (¥ -316 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -316 M) is a minus, Financial Cash Flow (¥ 1 B) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 13 M) is Net Income (¥ -392 M) Operating Cash Flow (¥ -316 M) is a minus, Sales (-) more , there is a possibility of holding the non-performing asset.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -316 M) and Investment Cash Flow (¥ -698 M) is minus, so , there is a possibility of the overinvestment.